set more off 
mata: mata set matafavor speed, perm

use "E:\隨身硬碟備份\E\TRY\findev_2017\Fin_Co2_pol_2020\program\n82_4y_8417_renew.dta",clear
tsset id period

***Table 4. Non-linear effects of bank structure***

**Panel A: political right**
*column(1). boone, CV and CO2*
xtabond2 lnav_co2pc c.fin_dev c.fin_dev#c.sc_right c.av_bon c.av_bon#c.sc_right c.sc_right ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(1 4))               gmm(c.fin_dev#c.sc_right, lag(4 4)orthogonal) ///
gmm(c.av_bon,     lag(1 1)orthogonal)     gmm(c.av_bon#c.sc_right,  lag(3 6)collapse) ///
gmm(c.sc_right,   lag(1 1)collapse) ///
gmm(c.lnav_gdp,   lag(1 1))    gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 1) ) ///  
iv(ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(2). lerner, CV and CO2*
xtabond2 lnav_co2pc c.fin_dev c.fin_dev#c.sc_right c.av_lern c.av_lern#c.sc_right c.sc_right ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(1 1) orthogonal)    gmm(c.fin_dev#c.sc_right, lag(1 3) ) ///
gmm(c.av_lern,    lag(1 1) orthogonal)    gmm(c.av_lern#c.sc_right, lag(1 1) ) ///
gmm(c.sc_right,   lag(1 1) collapse) ///
gmm(c.lnav_gdp,   lag(1 1))  gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 1) ) ///  
iv(ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(3). concerntration, CV and CO2*
xtabond2 lnav_co2pc c.fin_dev c.fin_dev#c.sc_right c.lnav_concn c.lnav_concn#c.sc_right c.sc_right ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(2 2))    gmm(c.fin_dev#c.sc_right,    lag(3 3) orthogonal) ///
gmm(c.lnav_concn, lag(1 4))    gmm(c.lnav_concn#c.sc_right, lag(1 1) orthogonal) ///
gmm(c.sc_right,   lag(1 3) collapse ) ///
gmm(c.lnav_gdp,   lag(1 1))    gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 1) orthogonal) ///  
iv(ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(4). boone, CV and Energy use*
xtabond2 lnav_engpc c.fin_dev c.fin_dev#c.sc_right c.av_bon c.av_bon#c.sc_right c.sc_right ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(1 3))               gmm(c.fin_dev#c.sc_right, lag(1 2)orthogonal) ///
gmm(c.av_bon,     lag(1 4)orthogonal)     gmm(c.av_bon#c.sc_right,  lag(2 3)) ///
gmm(c.sc_right,   lag(1 1)) ///
gmm(c.lnav_gdp,   lag(3 3))    gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 1) ) ///  
iv(ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(5). lerner, CV and Energy use*
xtabond2 lnav_engpc c.fin_dev c.fin_dev#c.sc_right c.av_lern c.av_lern#c.sc_right c.sc_right ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(1 2) orthogonal)   gmm(c.fin_dev#c.sc_right, lag(1 2)) ///
gmm(c.av_lern,    lag(1 1))              gmm(c.av_lern#c.sc_right, lag(3 3) orthogonal) ///
gmm(c.sc_right,   lag(2 3) orthogonal) ///
gmm(c.lnav_gdp,   lag(2 3))  gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 2)) ///  
iv(ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(6). concerntration, CV and Energy use*
xtabond2 lnav_engpc c.fin_dev c.fin_dev#c.sc_right c.lnav_concn c.lnav_concn#c.sc_right c.sc_right ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(4 4) orthogonal)   gmm(c.fin_dev#c.sc_right,  lag(2 2)) ///
gmm(c.lnav_concn, lag(3 3) collapse)     gmm(c.lnav_concn#c.sc_right, lag(1 4)) ///
gmm(c.sc_right,   lag(1 2)) ///
gmm(c.lnav_gdp,   lag(2 3))    gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 3)) ///  
iv(ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(7). boone, CV and Green technology*
xtabond2 lnav_techpc c.fin_dev c.fin_dev#c.sc_right c.av_bon c.av_bon#c.sc_right c.sc_right ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(1 1)orthogonal)    gmm(c.fin_dev#c.sc_right, lag(1 1)orthogonal) ///
gmm(c.av_bon,     lag(3 3))              gmm(c.av_bon#c.sc_right,  lag(1 2)collapse) ///
gmm(c.sc_right,   lag(2 2)collapse) ///
gmm(c.lnav_gdp,   lag(2 4))              gmm(c.lnav_gdp#c.lnav_gdp,lag(2 4) ) ///  
iv(ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0)  ///
twostep small
*column(8). lerner, CV and Green technology*
xtabond2 lnav_techpc c.fin_dev c.fin_dev#c.sc_right c.av_lern c.av_lern#c.sc_right c.sc_right ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(1 2) )            gmm(c.fin_dev#c.sc_right, lag(1 1)orthogonal ) ///
gmm(c.av_lern,    lag(2 4) collapse )   gmm(c.av_lern#c.sc_right, lag(2 3)orthogonal) ///
gmm(c.sc_right,   lag(1 1) orthogonal) ///
gmm(c.lnav_gdp,   lag(2 2))  gmm(c.lnav_gdp#c.lnav_gdp,  lag(2 2)) ///  
iv(ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(9). concerntration, CV and Green technology*
xtabond2 lnav_techpc c.fin_dev c.fin_dev#c.sc_right c.lnav_concn c.lnav_concn#c.sc_right c.sc_right ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(1 1) collapse)    gmm(c.fin_dev#c.sc_right,    lag(1 2) ) ///
gmm(c.lnav_concn, lag(2 2) )            gmm(c.lnav_concn#c.sc_right, lag(1 3) collapse) ///
gmm(c.sc_right,   lag(1 1) collapse) ///
gmm(c.lnav_gdp,   lag(1 2) )    gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 2) ) ///  
iv(ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small


**Panel B: democratic accountability**
*column(1). boone, CV and CO2*
xtabond2 lnav_co2pc c.fin_dev c.fin_dev#c.sc_da c.av_bon c.av_bon#c.sc_da c.sc_da ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,   lag(2 2)orthogonal)     gmm(c.fin_dev#c.sc_da, lag(1 2)orthogonal ) ///
gmm(c.av_bon,    lag(2 2))               gmm(c.av_bon#c.sc_da,  lag(1 1) ) ///
gmm(c.sc_da,     lag(2 2)collapse) ///
gmm(c.lnav_gdp,  lag(1 2))  gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 2)) ///  
iv(ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(2). lerner, CV and CO2*
xtabond2 lnav_co2pc c.fin_dev c.fin_dev#c.sc_da c.av_lern c.av_lern#c.sc_da c.sc_da ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(1 1))            gmm(c.fin_dev#c.sc_da, lag(1 1) ) ///
gmm(c.av_lern,    lag(1 2) collapse)   gmm(c.av_lern#c.sc_da, lag(2 2) ) ///
gmm(c.sc_da,      lag(1 2)) ///
gmm(c.lnav_gdp,   lag(1 1))  gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 1) ) ///  
iv(ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(3). concerntration, CV and CO2*
xtabond2 lnav_co2pc c.fin_dev c.fin_dev#c.sc_da c.lnav_concn c.lnav_concn#c.sc_da c.sc_da ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(1 2)orthogonal)  gmm(c.fin_dev#c.sc_da,   lag(1 1) orthogonal) ///
gmm(c.lnav_concn, lag(1 1))            gmm(c.av_concn#c.sc_da,  lag(1 2) collapse) ///
gmm(c.sc_right,   lag(2 2) collapse) ///
gmm(c.lnav_gdp,   lag(1 2))            gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 3) ) ///  
iv(ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(4). boone, CV and Energy use*
xtabond2 lnav_engpc c.fin_dev c.fin_dev#c.sc_da c.av_bon c.av_bon#c.sc_da c.sc_da ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,   lag(1 2))               gmm(c.fin_dev#c.sc_da, lag(2 3) ) ///
gmm(c.av_bon,    lag(1 1))               gmm(c.av_bon#c.sc_da,  lag(1 4)) ///
gmm(c.sc_da,     lag(2 2)collapse) ///
gmm(c.lnav_gdp,  lag(2 3))  gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 2)) ///  
iv(ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(5). lerner, CV and Energy use*
xtabond2 lnav_engpc c.fin_dev c.fin_dev#c.sc_da c.av_lern c.av_lern#c.sc_da c.sc_da ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(2 2))            gmm(c.fin_dev#c.sc_da, lag(1 1)) ///
gmm(c.av_lern,    lag(1 1))            gmm(c.av_lern#c.sc_da, lag(1 3)) ///
gmm(c.sc_da,      lag(1 2)) ///
gmm(c.lnav_gdp,   lag(1 1))  gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 1) ) ///  
iv(ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(6). concerntration, CV and Energy use*
xtabond2 lnav_engpc c.fin_dev c.fin_dev#c.sc_da c.lnav_concn c.lnav_concn#c.sc_da c.sc_da ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(3 3) )               gmm(c.fin_dev#c.sc_da,    lag(1 1)) ///
gmm(c.lnav_concn, lag(1 4) orthogonal )    gmm(c.lnav_concn#c.sc_da, lag(1 2)) ///
gmm(c.sc_right,   lag(1 2) collapse) ///
gmm(c.lnav_gdp,   lag(1 1))    gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 1)) ///  
iv(ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(7). Boone, CV and Green technology*
xtabond2 lnav_techpc c.fin_dev c.fin_dev#c.sc_da c.av_bon c.av_bon#c.sc_da c.sc_da ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,   lag(1 1)orthogonal)     gmm(c.fin_dev#c.sc_da, lag(1 1)) ///
gmm(c.av_bon,    lag(1 2))               gmm(c.av_bon#c.sc_da,  lag(1 2) ) ///
gmm(c.sc_da,     lag(1 1)collapse) ///
gmm(c.lnav_gdp,  lag(1 1))               gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 1)) ///  
iv(ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0)  ///
twostep small
*column(8). lerner, CV and Green technology還沒調出*
xtabond2 lnav_techpc c.fin_dev c.fin_dev#c.sc_da c.av_lern c.av_lern#c.sc_da c.sc_da ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(1 1) )   gmm(c.fin_dev#c.sc_da, lag(1 1)orthogonal ) ///
gmm(c.av_lern,    lag(2 2) )   gmm(c.av_lern#c.sc_da, lag(2 2)orthogonal) ///
gmm(c.sc_da,      lag(1 1) orthogonal) ///
gmm(c.lnav_gdp,   lag(2 2))  gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 2)) ///  
iv(ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(9). concerntration, CV and Green technology*
xtabond2 lnav_techpc c.fin_dev c.fin_dev#c.sc_da c.lnav_concn c.lnav_concn#c.sc_da c.sc_da ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(2 3))    gmm(c.fin_dev#c.sc_da,    lag(1 1) orthogonal) ///
gmm(c.lnav_concn, lag(1 1))    gmm(c.av_concn#c.sc_da,   lag(1 2) collapse) ///
gmm(c.sc_right,   lag(2 2) collapse ) ///
gmm(c.lnav_gdp,   lag(2 2))    gmm(c.lnav_gdp#c.lnav_gdp, lag(1 3) ) ///  
iv(ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small

**Panel C: democracy-polity2**
*column(1). boone, CV and CO2*
xtabond2 lnav_co2pc c.fin_dev c.fin_dev#c.sc_pol c.av_bon c.av_bon#c.sc_pol c.sc_pol ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(4 4))               gmm(c.fin_dev#c.sc_pol, lag(2 4) ) ///
gmm(c.av_bon,     lag(2 2)orthogonal)     gmm(c.av_bon#c.sc_pol,  lag(1 1) ) ///
gmm(c.sc_pol,     lag(2 2)collapse) ///
gmm(c.lnav_gdp,   lag(1 1))  gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 1)) ///  
iv(ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(2). lerner, CV and CO2*
xtabond2 lnav_co2pc c.fin_dev c.fin_dev#c.sc_pol c.av_lern c.av_lern#c.sc_pol c.sc_pol ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(6 6))    gmm(c.fin_dev#c.sc_pol, lag(2 3)orthogonal) ///
gmm(c.av_lern,    lag(2 2))    gmm(c.av_lern#c.sc_pol, lag(1 1)orthogonal ) ///
gmm(c.sc_pol,     lag(2 2)collapse) ///
gmm(c.lnav_gdp,   lag(1 1))    gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 1) ) ///  
iv(ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(3). concerntration, CV and CO2*
xtabond2 lnav_co2pc c.fin_dev c.fin_dev#c.sc_pol c.lnav_concn c.lnav_concn#c.sc_pol c.sc_pol ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(3 3) )              gmm(c.fin_dev#c.sc_pol,    lag(1 1) ) ///
gmm(c.lnav_concn, lag(1 3) orthogonal)    gmm(c.lnav_concn#c.sc_pol, lag(2 4) collapse) ///
gmm(c.sc_pol,     lag(2 2) collapse) ///
gmm(c.lnav_gdp,   lag(1 1))     gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 1)) ///  
iv(ln_co2pc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(4). boone, CV and Energy use*
xtabond2 lnav_engpc c.fin_dev c.fin_dev#c.sc_pol c.av_bon c.av_bon#c.sc_pol c.sc_pol ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(4 4))               gmm(c.fin_dev#c.sc_pol, lag(2 3) ) ///
gmm(c.av_bon,     lag(1 5)orthogonal)     gmm(c.av_bon#c.sc_pol,  lag(2 5) ) ///
gmm(c.sc_pol,     lag(1 5)orthogonal) ///
gmm(c.lnav_gdp,   lag(2 2))  gmm(c.lnav_gdp#c.lnav_gdp,  lag(2 2)) ///  
iv(ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(5). lerner, CV and Energy use*
xtabond2 lnav_engpc c.fin_dev c.fin_dev#c.sc_pol c.av_bon c.av_bon#c.sc_pol c.sc_pol ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(4 4))            gmm(c.fin_dev#c.sc_pol, lag(1 4)) ///
gmm(c.av_bon,     lag(2 2))            gmm(c.av_bon#c.sc_pol,  lag(1 1)) ///
gmm(c.sc_pol,     lag(1 1)orthogonal) ///
gmm(c.lnav_gdp,   lag(2 3))     gmm(c.lnav_gdp#c.lnav_gdp, lag(2 2)) ///  
iv(ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(6). concerntration, CV and Energy use*
xtabond2 lnav_engpc c.fin_dev c.fin_dev#c.sc_pol c.lnav_concn c.lnav_concn#c.sc_pol c.sc_pol ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(2 3))            gmm(c.fin_dev#c.sc_pol,    lag(1 3)) ///
gmm(c.lnav_concn, lag(1 2))            gmm(c.lnav_concn#c.sc_pol, lag(1 1)) ///
gmm(c.sc_pol,     lag(2 2) orthogonal) ///
gmm(c.lnav_gdp,   lag(1 1))  gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 1)) ///  
iv(ln_engpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(7). boone, CV and Green technology*
xtabond2 lnav_techpc c.fin_dev c.fin_dev#c.sc_pol c.av_bon c.av_bon#c.sc_pol c.sc_pol ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(1 1)orthogonal)    gmm(c.fin_dev#c.sc_pol, lag(1 2) ) ///
gmm(c.av_bon,     lag(1 2))              gmm(c.av_bon#c.sc_pol,  lag(1 1) ) ///
gmm(c.sc_pol,     lag(1 1)collapse) ///
gmm(c.lnav_gdp,   lag(1 1)orthogonal)    gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 1)) ///  
iv(ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(8). lerner, CV and Green technology*
xtabond2 lnav_techpc c.fin_dev c.fin_dev#c.sc_pol c.av_lern c.av_lern#c.sc_pol c.sc_pol ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(1 1))    gmm(c.fin_dev#c.sc_pol, lag(2 2) orthogonal) ///
gmm(c.av_lern,    lag(2 2))    gmm(c.av_lern#c.sc_pol, lag(2 2) ) ///
gmm(c.sc_pol,     lag(2 2)) ///
gmm(c.lnav_gdp,   lag(1 1))  gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 1)) ///  
iv(ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small
*column(9). concerntration, CV and Green technology*
xtabond2 lnav_techpc c.fin_dev c.fin_dev#c.sc_pol c.lnav_concn c.lnav_concn#c.sc_pol c.sc_pol ///
c.lnav_gdp c.lnav_gdp#c.lnav_gdp ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0, ///
gmm(c.fin_dev,    lag(1 2) )             gmm(c.fin_dev#c.sc_pol,    lag(1 2)orthogonal ) ///
gmm(c.lnav_concn, lag(1 1) collapse )    gmm(c.lnav_concn#c.sc_pol, lag(1 1)) ///
gmm(c.sc_pol,     lag(2 3) collapse) ///
gmm(c.lnav_gdp,   lag(2 2))     gmm(c.lnav_gdp#c.lnav_gdp,  lag(1 2)) ///  
iv(ln_techpc0 ln_trad0 ln_urb0 ln_sec0 ln_inds0) ///
twostep small

log close
clear
